With base price at just Rs 18, Indians now pay 275% in taxes to govt on every litre of petrol!

coastaldigest.com web desk
June 9, 2020

With the steep hike in excise duty in the past couple of months, an average consumer of petrol now pays over 275% in taxes to centre and states on a litre of the fuel.  The base price of petrol is just about Rs 18. The taxes are close to Rs 50 and the pump price is over Rs 72.

India imports 85% of all its crude oil demand.  After a steep hike in excise duty in the past two months despite a hold on daily price revisions by the oil public sector undertakings (PSUs), Indian consumers now pay 275% collectively in excise duty to state and centre. 

The central government hiked excise on petrol and diesel by Rs 10 and Rs 13 respectively last month. The excise duty on petrol is taxed around Rs 33-a-litre while the same on diesel it is Rs 32.

The Value-Added Tax (VAT) on both petrol and diesel is Rs 16.44 and Rs 16.26 respectively. Both the taxes together are around Rs 49 while it is sold at petrol pumps at 73-per-litre.

These two taxes cumulatively account for 69% of tax which is higher than anywhere else in the world. The same is taxed at 19% in the US, 47% in Japan, UK 62% and 63% in France. The government does not pass on the benefit of lower crude oil prices to the customer.

It is to be noted that Indian consumers continued to pay Rs 70-a-litre even when crude oil prices hit a paltry US $ 20-a-barrel on April 12.

Former finance minister and Congress leader recently took a jab at the Centre over rising prices stating, “Fuel selling prices raised twice in two days, following tax hikes two weeks ago. This time to benefit oil companies. Government is poor, it needs more taxes. Oil companies are poor, they need better prices. Only the poor and middle class are not poor, so they will pay”.

Comments

Lovely indian
 - 
Wednesday, 10 Jun 2020

Acche din for modi bakth....lets enjoy

 

you need only ram mandir and NRC

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 6,2020

Bengaluru, Jan 6: There is a wide spread criticism by the Janata Dal(S) and Congress leaders over a proposal to rename Ramanagaram district as New (Nava) Bengaluru, Karnataka Chief Minister CM Yediyurappa said on Monday.

“An unnecessary discussion on renaming Ramanagaram is under way. There is no thought before the government over renaming," The CM accused the Congress and JD(S) leaders of indulging in baseless discussion to mislead the people and to remain relevant. "There is no such agenda before the government. It is a joke that JD(S) and Congress leaders are starting a fight over it.”

The Chief Minister’s clarification came after criticism by former Chief Minister HD Kumaraswamy, who carved out the Ramanagaram district when he was Chief Minister, and former Minister DK Shivakumar whose Kanakapura constituency is in Ramanagaram district, after Deputy Chief Minister CN Ashwath Narayan said Ramanagaram could be renamed as Nava Bengaluru to increase investments prospects.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 9,2020

Bengaluru, May 9: The Karnataka government may not extend the daily working hours from 8 to 12, with Labour Minister A Shivaram Hebbar saying on Saturday that the move would neither benefit the industries nor workers.

Hebbar said that the proposal has not been discussed and it may come for final deliberations next week. He also noted that some States have already extended the working hours. More than extending working hours, there should be employment to be given. If there are no jobs what can be done by extending working hours? If it is done (working hours extended to 12 hours), it would neither benefit workers nor industries. Let's see what happens, he said.

Asked if the government was in favour of the extension, he said, "I don't think it will be ready for the (12 hour) proposal." Meanwhile, the Minister also said that their top priority now was to see that all MSMEs start operating again, salaries are paid to employees and there are no job losses for any reason. If industries don't reopen, how can workers get their employment? We should think in parallel, Hebbar said adding, the government was keeping the interests of both MSMEs and workers in mind.

He urged the Centre to offer a relief package to the MSME sector, saying it is facing very difficult times due to the adverse impact of the COVID-19-induced lockdown, and also noting its role in generating large-scale employment and feeding large industries.

The BJP-led government has done whatever within its limitations to help the MSMEs, he said. Earlier this week, the Chief Minister B S Yediyurappa announced that the monthly fixed charges of electricity bills of MSMEs would be waived for two months. MSMEs have suffered huge production losses due to the lockdown. It takes some time for them to revive, Yediyurappa had said. The Chief Minister had also said payment of fixed charges in the electricity bills of the large industries will be deferred without penalty and interest for a period of two months.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 29,2020

Bengaluru, Feb 29: A Lingayat seer on Friday threatened to get 10 BJP MLAs to quit if Karnataka Chief Minister BS Yediyurappa does not make MLA Dattatreya Patil Revoor a minister soon.

"If Yediyurappa does not make BJP's Gulbarga South MLA Dattatreya Patil Revoor a minister, I will get 10 ruling party legislators resign and reduce the government to a minority, forcing the Chief Minister to resign," said Srishaila Saranga mutt seer Deshikendra Swami at a meeting in Kalaburagi on Friday.

Addressing a gathering of the Lingayat community, to which Revoor belongs, the seer said although he wanted Yediyurappa to complete the remaining 3-year term in office and the BJP to return to power after the next elections, it would be difficult for Yediyurappa to continue if Revoor is not made a minister.

"Yediyurappa will be in office for the next three years if he makes Revoor minister. If not, I will ask him (latter) also to resign, as does not need to be in politics anymore because he has a house, many acres of agricultural land and is very rich," the seer told the gathering in Kannada.

In his nomination to contest in the May 2018 assembly elections, Revoor (37) declared in an affidavit Rs 17-crore assets, including immovable properties.

Wishing Yediyurappa to remain in office for the next three years and return as Chief Minister, the seer said if Yediyurappa is forced to quit, then the Lingayat community would not get an opportunity to have its leader as Chief Minister again for at least 30 years.

Yediyurappa, whose constituency is Shikaripura in Shivamogga district, is considered the tallest Lingayat leader of the politically powerful community, which accounts for 18% of the 6.5-crore state's population.

Though a dozen BJP legislators won from the erstwhile Hyderabad-Karnataka region in the May 2018 Assembly elections, only Prabhu Chauhan from the adjacent Bidar district was made minister for animal husbandry.

The Saranga mutt seer’s threat comes a month after Veerashaiva Lingayat Panchamasali seer Swami Vachananda, dared Yediyurappa to make 3 of the community legislators ministers ahead of the second cabinet expansion on February 6.

At a Lingayat gathering in the state's Davengere district on January 15, Vachananda told Yediyurappa to make party's Bilgi legislator Murgesh Nirani Minister, failing which the community would withdraw its support to the ruling party.

Hiryur is about 300km northwest of the southern state's capital Bengaluru.

Ticking off the young seer, a defiant Yediyurappa, however, threatened to walk out of the meeting if he was blackmailed for making Lingayat MLAs ministers.

"You cannot threaten me saying your sub-sect (Veera Shaiva) community would not support the BJP in the next assembly or Lok Saba elections, due in 2023 and 2024," retorted Yediyurappa, reasserting his status as the community's strongman in the state.

In the second cabinet expansion, only 10 newly elected legislators who defected from the Congress and the Janata Dal-Secular (JD-S) were made ministers, leaving 6 posts vacant in the 34-member ministry.

In the first cabinet expansion on August 20, 2019, 17 party legislators were made ministers. Nirani and others, who were present on the dais, pacified Yediyurappa to take his seat and requested the seer to avoid making political speech on such occasions.

"The chief minister threatened to resign than succumb to pressures from religious or community followers," a party official told media.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.